Business News

Amazon has lifted its wages, but the implications aren't as good as you might think

Written by Richard Holden, Professor of Economics and PLuS Alliance Fellow, UNSW

Amazon has lifted its lowest pay rate to US$15 an hour.Shutterstock

Amazon has just voluntarily raised its employees’ minimum wage to US$15 an hour. Retail giant Costco has moved to US$14. This might not sound like a lot – and it is sure not a lot to live on – but with the US federal minimum wage at US$7.25 it is a big shift.

Why...

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